US markets saw modest gains as tech giants like Alphabet and Apple rallied following a favorable Google antitrust ruling. The S&P 500 and Nasdaq rose, pulling out of a recent losing streak amid cautious optimism despite mixed economic signals and labor market cooling fears.
Federal courts reject Trump administration’s attempts to block or freeze Harvard funding, ruling the cuts illegal and restoring billions in research grants. This represents significant legal setbacks for the administration and a win for academic institutions defending their funding rights.
25% – Potential workforce reduction at ConocoPhillips amid industry downturn.
Multiple reports detail widespread layoffs in major U.S. oil and gas companies including ConocoPhillips, reflecting industry-wide restructuring amid falling energy prices and economic pressures. Thousands of jobs are at risk as firms seek cost cuts.
Trump-backed cryptocurrency firms including American Bitcoin make strong market debuts with shares surging over 100%, expanding the Trump family’s crypto fortune and drawing attention amid ethical concerns. This marks a notable rise in Trump-family crypto ventures.
Macy’s Posts Strongest Sales Growth in Three Years, Shares Soar 16%
Macy’s reported its best sales advance in three years, boosted by higher-income shoppers and fresh merchandise, signaling a potential turnaround and encouraging investors with a 16% stock surge.
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Key legal developments strike a blow to Trump’s immigration and tariff policies, including appellate courts blocking uses of wartime law to deport Venezuelans and ruling Trump’s tariffs unlawful, risking potential multi-billion-dollar refunds to businesses.
A U.S. military strike against a Venezuelan drug trafficking boat kills 11, with President Trump justifying the lethal action and escalating U.S. anti-cartel operations in the Caribbean. The strike draws regional political support and warnings of ongoing efforts.
ConocoPhillips Plans Up to 25% Job Cuts Amid Oil Sector Slump
ConocoPhillips announced plans to slash up to a quarter of its workforce, impacting thousands amid a downturn in oil prices, exacerbating a wave of job losses across the U.S. energy sector.
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Google avoids breakup as judge rules it can keep Chrome browser but must give up some exclusive search deals, a partial win for the tech giant amidst antitrust scrutiny with implications for competition and AI development in search.
Chinese President Xi Jinping hosts a large military parade showcasing new high-tech weaponry as global allies including Putin and Kim Jong Un attend, signaling a powerful display of China’s military might and a united front against US-led global order.
Federal courts ruled Trump’s administration illegally froze billions in Harvard research grants, ordering funds to be unfrozen—a significant policy change restoring academic funding rights.
Salesforce beats earnings estimates but issues softer guidance, sending shares lower amid investor concerns over AI adoption speed and market skepticism about growth prospects in a competitive software landscape dominated by AI impact.
American Eagle posts better-than-expected earnings and expects sales uplift from ad campaigns featuring Sydney Sweeney and Travis Kelce, resulting in a sharp stock surge as the retailer capitalizes on targeted marketing to bolster its fall season forecasts.
Independence of monetary policy is a critical element for its success.
— Stephen Miran, Trump’s Fed governor nominee
The House passes motions to strengthen investigations into Jeffrey Epstein’s case with bipartisan support, while survivors and accusers push for full disclosure of all related files, amplifying a congressional spotlight on the controversial financier’s abuse network.
The U.S. labor market shows signs of cooling with declining job openings and increased caution in hiring, fueling market concerns about economic slowdown amid mixed job data and cautious consumer spending, while the Federal Reserve acknowledges slower growth expectations.
Amazon ends its Prime Invitee program requiring users outside the household to get their own memberships, tightening sharing rules and eliminating a popular free shipping perk as the company redefines Prime benefits and membership policies for broader consumer control.
Newsmax files a federal antitrust lawsuit against Fox News, alleging monopolistic practices aimed at suppressing conservative competitors, marking a rare right-wing legal clash and raising tensions in conservative media markets.
China’s nuclear triad unveiled for first time at massive military parade attended by global leaders, alongside advanced missiles and weaponry emphasizing Beijing’s growing military capabilities and geopolitical influence in a show of defiance to Western powers.
Salesforce CEO Marc Benioff details the company’s AI-driven cuts of 4,000 support roles and discusses cautious revenue guidance, highlighting tech industry’s rapid AI integration amid restructuring and a focus on future growth.
Macy’s posts strongest sales growth in three years driven by higher income shoppers and fresh product lines, boosting investor confidence despite overall cautious consumer environment, positioning the department store chain for a continued turnaround.
Nvidia and chip stocks gain as AI market share expands, though some caution arises on valuation and growth sustainability. Nvidia recently acquired AI coding startup Solver, signaling increasing AI industry consolidation.
Two major US banks, US Bancorp and Toronto-Dominion Bank, expand Bitcoin custody and anti-money laundering measures, reflecting growing institutional crypto adoption and regulatory focus on digital assets amid a shifting financial landscape.
COVID vaccine mandates face political backlash in the US with Florida moving to eliminate all vaccine mandates, including for children, while disputes and criticism surround CDC leadership and vaccine policy changes, sparking state-level resistance.